Swatch CEO Defends Pocket Watch Launch After Store Closures

Swatch CEO Nick Hayek Jr defended the launch of a collaboration pocket watch with Audemars Piguet after some stores closed due to large crowds. The Royal Pop timepiece, priced from £335, combines Swatch's pop-art design with Audemars Piguet's octagonal bezel. It is not available online and production will continue for months.

Swatch closed stores in Liverpool, Manchester, Birmingham, Sheffield, Glasgow, and London. Police were called to locations including Old Trafford in Greater Manchester and St David's 2 shopping centre in Cardiff, where a 25-year-old man was arrested.

The company said 20 out of 220 stores globally experienced issues. Hayek Jr stated that most shopping centres and authorities cooperated, and situations were managed where possible. "Having crowds at the beginning of the launch of [a] product should not be bad news, it should be something that is good news," he said.

Jr said he did not criticise people reselling the watches at higher prices. He noted that reselling occurs regularly in the luxury market. Amna Khan, senior lecturer at Manchester Metropolitan University, said social media promotion contributed to interest among younger consumers seeking access to the Audemars Piguet brand.

The situation at stores has calmed since the Monday launch, according to the company.